This is the ‘Hormuz Effect’ – the ultimate symbol of the decline of the American dream
The US-Iran War is officially over. After months of back-and-forth negotiations, a finalized Memorandum of Understanding (MOU) has been signed by US President Donald Trump and his Iranian counterpart Masoud Pezeshkian, the fighting stopped, and shipping will resume at Iranian ports and through the Strait of Hormuz.
It is this last part that deserves more attention, because the entire focus of the American effort during the negotiation period boiled down to getting oil flowing freely once again through this choke point. As James Carvelle famously noted during former US President Bill Clinton’s 1992 election, “It’s the economy, stupid.”
The minutia of foreign policy can drive those elites in power, but to remain in power they need the support of the people on election day, and to get that support they need to attend to affairs of the wallet. It’s the economy, stupid.
The Israeli-driven military misadventure has ended in a strategic defeat for the United States. The inescapable irony is that the principle negotiating position of the US – the opening of the Strait of Hormuz – existed only because of this war. Before the US and Israel committed their combined act of perfidy back in February of this year, the Strait of Hormuz was open to all shipping, and there were no income-generating transit fees.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: rt.com
